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EU mergers and takeovers (Sept 22)

Tue Sep 22, 2009 6:06am EDT

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BRUSSELS, Sept 22 (Reuters) - The following are planned mergers under review by the European Commission and a brief guide to the EU merger process:

APPROVALS AND WITHDRAWALS:

-- Bermuda-based reinsurer PartnerRe Ltd (PRE.N) to acquire sole control of French-listed Paris Re Holdings Ltd PRI.PA (approved Sept. 22)

NEW LISTINGS:

None

EXTENSIONS AND OTHER CHANGES:

None

FIRST-STAGE REVIEWS BY DEADLINE:

SEPT 22

-- U.S. asset management firm BlackRock (BLK.N) to acquire British global asset management products and services company Barclays Global Investors (notified Aug. 18/deadline Sept. 22)

-- Japanese consumer electronics maker Sony Corp (6758.T) to acquire control of the small- to mid-size TFT-LCD display business of Japanese maker of printers and LCD panels Seiko Epson Corp (6724.T) (notified Aug. 21/deadline Sept. 22)

-- Swiss drugmaker Novartis (NOVN.VX) to acquire Austrian company Ebewe SP Group (notified Aug. 21/deadline Sept. 22)

SEPT 25

-- German engineering group Robert Bosch [ROBG.UL] to acquire German aloe products and silicon-based solar modules company aloe solar and German thin-film solar modules company Johanna Solar Technology (notified Aug. 21/deadline Sept. 25/simplified)

SEPT 29

-- Japanese electronics company Panasonic Corp (6752.T) to acquire counterpart Sanyo Electric (6764.T) (notified Aug. 11/deadline Sept. 15/extended on Sept. 10/new deadline Sept. 29)

-- Greek Piraeus Bank (BOPr.AT) and French bank BNP Paribas (BNPP.PA) acquire joint control of Greek wealth management undertaking Piraeus Wealth Management AEPEY and Swiss wealth management services undertaking Piraeus Wealth Management (Switzerland) SA (notified Aug. 25/deadline Sept. 29/simplified)

-- French financial services firm Predica, owned by Credit Agricole (CAGR.PA), to acquire together with French real estate management company SFL, which is already jointly controlling French real estate company Parholding, joint control over the latter by way of purchase of shares currently owned by IDF (notified Aug. 25/deadline Sept. 29/simplified)

SEPT 30 -- German mail delivery firm TNT Deutschland, belonging to the Dutch group TNT NV (TNT.AS), and German publishing, electronic media and mail delivery company Holtzbrinck acquire a number of joint ventures registered in Germany and active in regional mail delivery (notified Aug. 26/deadline Sept. 30/simplified)

OCT 1

-- U.S. private equity investment company MD Investors Corp, indirectly controlled solely by U.S. Carlyle Group [CYL.UL], to acquire parts of U.S. metal components manufacturer Metaldyne Corp [HEINPM.UL] (notified Aug. 27/deadline Oct. 1/simplified)

OCT 2

-- South African foodservice products firm Bidvest (BVTJ.J) to acquire Czech/Polish counterpart Nowaco Group (notified Aug. 28/deadline Oct. 2/simplified)

OCT 6

-- Czech energy firm International Power Opatovice a.s., controlled by Britain's International Power Plc (IPR.L); the City of Prague; and German energy group EnBW (EBKG.DE), which is jointly controlled by French and German energy firms Electricite de France (EDF.PA) and Zweckverband Oberschwaebische Elektrizitaetswerke, take joint control of Czech energy provider Prazska Teplarenska a.s. (notified Sept. 1/deadline Oct. 6)

-- U.S. auto maker General Motors [GM.UL] to acquire parts of U.S. automotive components firm Delphi DPHIQ.PK (notified Sept. 1/deadline Oct. 6)

-- Test Tasit, a newly incorporated company ultimately controlled solely by British private equity investor Bridgepoint Capital Group Ltd [BRDG.UL], to acquire joint control of Tuvturk Kuzey, Tuvturk Guney and Tuvturk Istanbul, involved in vehicle inspections in Turkey, with existing parent companies Tuv Sud of Germany and Dogus Holding [DOGUS.UL] of Turkey. Test Tasit also to take sole control of Adana, a Turkish vehicle inspection firm (notified Sept. 1/deadline Oct. 6/simplified)

OCT 9

-- German semiconductor maker Infineon Technologies AG (IFXGn.DE) and South Korean counterpart LS Industrial System (010120.KS) Co Ltd take joint control of LS Power Semitech Co Ltd, a new joint venture to make and market molded intelligent power modules used in consumer applications (notified Sept. 4/deadline Oct. 9/simplified)

-- British investment fund RREEF Pan-European Infrastructure Fund LP, managed by Germany's Deutsche Bank (DBKGn.DE); energy group BP Plc (BP.L); Spanish diversified company Ente Vasco De La Energia EVE; and Repsol YPF SA (REP.MC), a Spanish petroleum firm, acquire joint control of Bahia De Bizkaia Gas SL, a liquid natural gas regasification company in Spain, currently jointly controlled by Spain's Iberdrola SA (IBE.MC), BP, EVE and Repsol (notified Sept. 4/deadline Oct. 9)

OCT 13

-- German electricity and natural gas supplier E.ON (EONGn.DE) to acquire from Belgian counterpart Electrabel, which is part of GDF Suez (GSZ.PA), sole control over two power plants and drawing rights for electricity capacity in Belgium and the Netherlands (notified Sept. 8/deadline Oct. 13)

OCT 16

-- Swiss human resources and recruitment services firm Adecco (ADEN.VX) to acquire British counterpart Spring Group SPGR.L (notified Sept. 11/deadline Oct. 16)

-- Belgian energy firm Electrabel, belonging to the French GDF Suez Group (GSZ.PA), to acquire sole control of certain power plants and drawing rights for electricity capacity in Germany from German electricity and natural gas firm E.ON (EONGn.DE) (notified Sept. 11/deadline Oct. 16)

OCT 19

-- U.S. pipes, valves, fittings and related products distributor McJunkin (MRC.N), controlled by the Goldman Sachs Group (GS.N), to acquire Dutch counterpart Transmark (notified Sept. 14/deadline Oct. 19/simplified)

OCT 20

-- SNCF-Participations, belonging to French state-owned railway group SNCF, and Caisse de Depot et de Placement du Quebec, a manager of pension and insurance funds mainly in Quebec, take joint control of public transport operator Keolis and Effia, a provider of services to facilitate passenger mobility (notified Sept. 15/deadline Oct. 20)

SECOND-STAGE REVIEWS BY DEADLINE:

-- U.S. software maker Oracle Corp (ORCL.O) to acquire the whole of computer hardware maker Sun Microsystems Inc (JAVA.O) (notified Aug. 3/deadline Sept. 3/in-depth investigation opened on Sept. 3/new deadline Jan. 19, 2010)

GUIDE TO EU MERGER PROCESS

DEADLINES:

The European Commission has 25 working days after a deal is filed for a first-stage review. It may extend that to 35 working days, to consider either a company's proposed remedies or an EU member state's request to handle the case.

Most mergers win approval but occasionally the Commission opens a detailed second-stage investigation for up to 90 additional working days, which it may extend to 105 working days.

SIMPLIFIED:

Under the simplified procedure, the Commission announces the clearance of uncontroversial first-stage mergers without giving any reason for its decision. Cases may be reclassified as non-simplified -- that is, ordinary first-stage reviews -- until they are approved.



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